New Delhi: Farm equipment company Escorts Agri Machinery on Thursday claimed a 124.4% enhance in domestic tractor revenue at eleven,730 units in March.
The corporation experienced sold five,228 units in March 2020 when revenue were impacted by the COVID-19 lockdown and are not strictly equivalent, the corporation said in a regulatory submitting.
Escorts Agri Machinery said tractor need is anticipated to carry on to be potent led by increased rabi output, favourable crop prices, and first constructive forecast of 2021 monsoon time, all supporting rural consumer sentiments. The climbing inflation on the other hand continues to be a be concerned, the corporation added.
Exports final month were at 607 units as opposed to 216 units in March 2021. Full tractor revenue in the course of March 2021 were at twelve,337 units as against five,444 units in February 2020, up 126.6%, Escorts said.
For 2020-21 fiscal, the corporation claimed 23.8% growth in total revenue at 1,01,848 units as opposed to 82,252 units in 2019-twenty.
“In Fiscal 2020-21, for the initially time ever in any economic yr, corporation has crossed the a hundred,000-device landmark in terms of tractor revenue and tractor production in India,” Escorts said.